FleetCor Technologies, Inc. (FLT) Receives Average Recommendation of “Buy” from Brokerages

Shares of FleetCor Technologies, Inc. (NYSE:FLT) have received an average rating of “Buy” from the sixteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $187.92.

A number of equities research analysts have recently commented on FLT shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of FleetCor Technologies in a report on Tuesday, September 5th. Jefferies Group reiterated a “buy” rating and set a $197.00 price target on shares of FleetCor Technologies in a research note on Saturday, September 16th. Oppenheimer restated an “outperform” rating and set a $185.00 target price on shares of FleetCor Technologies in a research report on Tuesday, September 26th. Zacks Investment Research upgraded shares of FleetCor Technologies from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Monday, October 9th. Finally, Morgan Stanley upped their target price on shares of FleetCor Technologies from $184.00 to $189.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th.

FleetCor Technologies (NYSE FLT) traded down $0.72 during trading on Tuesday, reaching $190.46. 333,600 shares of the company traded hands, compared to its average volume of 1,116,614. FleetCor Technologies has a 12-month low of $121.52 and a 12-month high of $192.51. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $17,057.75, a P/E ratio of 32.39, a PEG ratio of 1.39 and a beta of 1.53.

FleetCor Technologies (NYSE:FLT) last posted its quarterly earnings results on Wednesday, November 1st. The business services provider reported $2.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.14 by $0.04. FleetCor Technologies had a net margin of 25.66% and a return on equity of 20.99%. The business had revenue of $577.90 million during the quarter, compared to the consensus estimate of $576.78 million. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. research analysts predict that FleetCor Technologies will post 7.76 earnings per share for the current year.

In other FleetCor Technologies news, insider Kurt Patrick Adams sold 7,099 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $170.00, for a total transaction of $1,206,830.00. Following the transaction, the insider now owns 9,246 shares of the company’s stock, valued at $1,571,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FLT. Advisor Group Inc. grew its holdings in FleetCor Technologies by 1.1% during the 2nd quarter. Advisor Group Inc. now owns 3,890 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 41 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in FleetCor Technologies by 13.0% during the 2nd quarter. Commonwealth Bank of Australia now owns 740 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 85 shares in the last quarter. Toronto Dominion Bank grew its holdings in FleetCor Technologies by 11.1% during the 2nd quarter. Toronto Dominion Bank now owns 1,128 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 113 shares in the last quarter. Nordea Investment Management AB grew its holdings in FleetCor Technologies by 4.3% during the 2nd quarter. Nordea Investment Management AB now owns 2,859 shares of the business services provider’s stock valued at $412,000 after purchasing an additional 119 shares in the last quarter. Finally, Commerce Bank grew its holdings in FleetCor Technologies by 11.2% during the 2nd quarter. Commerce Bank now owns 1,580 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 159 shares in the last quarter. 95.41% of the stock is owned by institutional investors.

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About FleetCor Technologies

FleetCor Technologies, Inc is a provider of workforce payment products. The Company offers fuel card payments product solutions, corporate payments products, toll products, lodging cards and gift cards. The Company operates through two segments: North America and International. Its products are sold to businesses, retailers, oil companies and marketers and government entities.

Analyst Recommendations for FleetCor Technologies (NYSE:FLT)

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